Business Roundup # Week 36

Business this week

 

Saama Centre In Pune

US-based data analytics firm Saama Technologies will set up a deep learning centre in Pune, according to a report.

The aim of the centre is to help the firm to build on its experience in the area of data analytics.  Saama has already begun hiring staff which would work in collaboration with its existing engineering centre in the city. It added that Pune will play a key role in the success of the company.

Startup Acquired

Business software provider Freshworks has bought a marketing software startup Zarget, its ninth acquisition in two years, says a report.

The move will help the cloud-based provider to help build its marketing solutions for businesses of all sizes. Zarget’s suite of conversion rate optimisation (CRO) tool helps marketers and designers know about how users interact with its websites.

Lux Picks Bachchan

Innerwear manufacturer Lux Industries has chosen Amitabh Bachchan as brand ambassador for its products LUX Venus and LUX Cott’swool, a report reveals.

The endorsement fee for the veteran actor is said to be around Rs 6-10 crore, according to estimates. The company will launch Bachchan with a major campaign from February next year through various media.

Restaurants’ Boost

The restaurant business finally picked up steam after almost two years of dull sales and growth, according to a report.

The sector posted double digit growth on the back of outlets in new markets and a surge in discount-driven footfalls in malls. The market value of Jubilant FoodWorks, Westlife Development and Speciality Restaurants hit 52-week highs in August and gained half a billion dollars in market capitalisation in the last three months.

Setback For Carmakers

Top Indian carmakers are predicting a setback due to the 25 per cent cess on big vehicles, according to a report.

The government has approved an ordinance which will allow a cess of 25% instead of the earlier 15% on sports utility vehicles (SUVs) under the Goods and Services Tax (GST). The move, which needs to be approved by the GST Council, will increase the prices of SUVs after having declined when the GST was introduced. This will dent growth, industry sources said, adding that the cess will be passed on to the customer.

Coca-Cola Move

The Coca-Cola Company is planning to introduce new beverages and cut its reliance on the Coke brand to meet customer preferences for healthier drinks, says a report.

The new plan will boost its market share in India and push it among its top three ones, the company says. However, Coke will still remain the main brand of the company, an official was quoted as saying.

New LG Device

LG Electronics has launched a slimmer model of one of its top of the range phones, it was reported yesterday.

The LG V30 has a six-inch screen which is smaller and narrower than its earlier flagship phone G6. However, the new model has an advanced new camera and voice activation feature which the company feels will help it bounce back after losing a share of the market to rivals.

Focus On Youth

India’s largest carmaker Maruti Suzuki India Limited (MSIL) has announced a restructure of its retail network to boost digital technology and draw more youth and modern customers, a report reveals.

The new showroom is part of MSIL’s drive to secure two million customers per annum by the end of the decade. The showroom will be called Maruti Suzuki Arena.

 

Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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